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Daily Market Outlook
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| Daily
Market Outlook (06 May 2024) |
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| Update
Time: |
06 May 2024 05:11GMT |
| Next Update
At: |
08:30GMT |
EUR/USD - 1.0764
Despite euro's rise to a 3-week high at 1.0812 on Friday after initial release of US NFP, subsequent sharp fall to 1.0752 on renewed usd's strength suggests recent upmove has made a temporary top and stronger retracement to 1.0720/25, then 1.0690/00 would be seen after consolidation but 1.0671/75 support area is likely to hold on first testing, yield rebound.
On the upside, only a firm break of 1.0795/00 would bring re-test of 1.0812, above yields marginal gain as1.0.840/50 should cap upside. |
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